The Treasury received 725 million liras ($122 million) from the privatization or fund income last month -- including transfers by the Turkish Privatization Administration, 4.5G license payments, and land sale revenues.

In April, the cash deficit of $2.4 billion represents the Treasury's cash revenues plus privatization and fund income minus expenditures, including interest payments.

The U.S. dollar/Turkish lira exchange rate stood at around 5.94 at the end of April.